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Dec 30, 2012
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you got a fuel tax and fuel tax is a huge tax . they are using the argument to get better mileage now. maybe you don't need to do so much. it is based on mileage. >> wayne makes a good point about the privacy issue. transponder tracking my mile it is big brotherish. >> it is and john makes a good argument against it it is a important policy work. its probably a bad idea. we don't need new tax. thmileage tax could hurt fuel efficient car it is the and questions o heavy congesti times and it is unworkable idea and why the obama administration distanced it. >> we he a trust fund in 2013 and that is to go to the roads. it will be negative and needs a fuel tax to fund it again. >> it is not too long. it will go negative in 2015. the gas tax is raised continuously since it was enacted in the 1950s. they are paying 64 cents a gallon in taxings. why is that the only proposal. it why not freedom. there is it public assets in every country but here at home. la guardia. terrible airport owned by the government. new xico and new zealand. airpo
you got a fuel tax and fuel tax is a huge tax . they are using the argument to get better mileage now. maybe you don't need to do so much. it is based on mileage. >> wayne makes a good point about the privacy issue. transponder tracking my mile it is big brotherish. >> it is and john makes a good argument against it it is a important policy work. its probably a bad idea. we don't need new tax. thmileage tax could hurt fuel efficient car it is the and questions o heavy congesti times...
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Dec 30, 2012
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short-term expiring tax cuts, including e paoll tax cut. you know, it's not the best way to solve a problem, but this cliff is the result of not coming up with deals and they're not going to come up with battery deal if it' negotiated it's not the ideal way to solve it out after deficit. we'd like to gradually raise taxes and cut spending, but this is the best we're going to get. any of the deals they would agree on, probably leave us to the oer guest's int, close t a trillion dollars anyway, and it's the clost shot leaves us with a deficit and closing this gap we can't get out of. and since they lowered taxes they raise spending and two things have to convening and one unfortunate way to do it. >> aren't we in the end, toby, go to get a bad deal? >> from the market standpoint we want to this riding in the last moment on white horses kumbayah, i believe the last hour the last day. >> the markets have been down had a bad week, selloff. >> in the futures market on friday, just after the guy came outen said maybe we have a deal, shot up a hund
short-term expiring tax cuts, including e paoll tax cut. you know, it's not the best way to solve a problem, but this cliff is the result of not coming up with deals and they're not going to come up with battery deal if it' negotiated it's not the ideal way to solve it out after deficit. we'd like to gradually raise taxes and cut spending, but this is the best we're going to get. any of the deals they would agree on, probably leave us to the oer guest's int, close t a trillion dollars anyway,...
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Dec 29, 2012
12/12
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and they are taxed again at the individual level. with the dividend and capital gains taxes. george bush, to his credit, tried to do something about that and he chopped the dividend and capital gains tax down to 15%. the effect of that was to reduce the incentive for corporations to take on too much debt. if you taxax equity too much, corporations take on too much debt. then it's more likely that they become bankrupt and to destabilize the whole system. gerri: you talk a little bit about competitiveness. let's detail that. low capital gains is important to our nation's competitiveness. but also, to the competitiveness of these companies that we are talking about. >> absolutely. let's say that you are a young indian or chinese entrepreneur with a science degree or engineerindegree and you graduate from mit. you want to start a high-tech company. would you started in the united states, where you're getting from your company years down the road will be taxed at 30%, or would you started in china or india where the capital gains tax te is zero? many of our major partners have zer
and they are taxed again at the individual level. with the dividend and capital gains taxes. george bush, to his credit, tried to do something about that and he chopped the dividend and capital gains tax down to 15%. the effect of that was to reduce the incentive for corporations to take on too much debt. if you taxax equity too much, corporations take on too much debt. then it's more likely that they become bankrupt and to destabilize the whole system. gerri: you talk a little bit about...
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Dec 29, 2012
12/12
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lou: let's start with the idea taxes that this president wants $1.6 trillion in new taxes. that is a heck of an initial bargaining position, isn't it.> >> the president talks about tax rates.te he wants tax rate increases and he converted into dollars.x rev the real question is can you raise tax revenues.se the only way that we will raise enoughevenues to get us out of trouble is private sectorsetor growth. tas you will not have private sectoc growth if you're saraying thate you're going too raise their health care costs or energy costs or labor costs. going t people aroe going to invest. job you are going to find that job creation is unique. american businesses want aess io president to succeed. i didn't vote for him, but hisey success is tied to my success. t conversely, his success is tied to the success of american bs business. there ought to be some common ground here. i'm just not seeing it yet. youh lou: what do you think of the idea that it doesn't ceos from companies show that the white house to talk big with the big guys, but small business thatf creates most thes
lou: let's start with the idea taxes that this president wants $1.6 trillion in new taxes. that is a heck of an initial bargaining position, isn't it.> >> the president talks about tax rates.te he wants tax rate increases and he converted into dollars.x rev the real question is can you raise tax revenues.se the only way that we will raise enoughevenues to get us out of trouble is private sectorsetor growth. tas you will not have private sectoc growth if you're saraying thate you're...
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Dec 29, 2012
12/12
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taxes every year. you're looking it over $300 billion. ." tom: upside-down by trillion closet -- a trillion dollars. not even close to fixing the deficit spending. still adding to the debt under republican and democrat programs >> this kind of class warfare rhetoric is serving a purpose. the reality is the proposed tax increases will fund the federal government for approximately eight days. it might make people feel good and that's a reason to pass it. frankly, i don't hear any politicians talking reality but the fiscal problems facing the country which is democrat or republican. tom: do you have any hope that the blame game can be put aside so they can get some work done? in the private sector these people would be fired. >> absolutely. this is a do nothing congress, the least active in four years when it comes to policy making, and the reason we are here is that the delay decisions for the past two years. i do think that something will happen because if it doesn't the consequences will be so severe i
taxes every year. you're looking it over $300 billion. ." tom: upside-down by trillion closet -- a trillion dollars. not even close to fixing the deficit spending. still adding to the debt under republican and democrat programs >> this kind of class warfare rhetoric is serving a purpose. the reality is the proposed tax increases will fund the federal government for approximately eight days. it might make people feel good and that's a reason to pass it. frankly, i don't hear any...
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Dec 28, 2012
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any time the rpublican candidate is viewed as the tax sector. in many had to defend his position in the debate he was a way out of his way to say, if you are wealthy and all you're not getting any tax cuts, and it was a defensive argument on a fundamental issue rather than pointing president obama had twice argue in public that raising taxes in an economic downturn would doom the economy. the president of the united states said that and iran on a proposal. lou: two things that seem peculiar. i would love for both of you to respond. i heard a lot of bonn, abou the tea party. the tea party did not exist in this election. it was a non fctor. why in the world would there be so much concern in the republican party about the tea party. why was there an idea that you're better off today than you were four years ago and pick 2008 as the year, he baseline, and it was a lousy year. in point of fact, just about everybody is. what o you make? very quickly. >> your immediate question, yes, we were better off than the depths of being in a whole. president cli
any time the rpublican candidate is viewed as the tax sector. in many had to defend his position in the debate he was a way out of his way to say, if you are wealthy and all you're not getting any tax cuts, and it was a defensive argument on a fundamental issue rather than pointing president obama had twice argue in public that raising taxes in an economic downturn would doom the economy. the president of the united states said that and iran on a proposal. lou: two things that seem peculiar. i...
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Dec 28, 2012
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david: taxes on dividends could be rising. chairman of southern company who owns a bunch of utility companies, why that could spell trouble for more than just investors. >> liz joins us telling us which big companies will be first to take a costly fall if we, in fact, do go off that cliff. ♪ [ indiinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indiinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain b b. ♪ all onhinkorswim from td ameritrade. ♪ hi hi ♪(whistling tune) ♪("don't worry be happy") shy david: it was wild in the pits at the cme was closing in chicago. sandy smith is there. what's going on, sandy? >> this is the stuff you don't see in a trade desk in the office or at home. the trade action picked up in the final minutes here. the s&p500 index of 500 stocks we watch every day closed at the top of the hour, at 14 # 0 # 2, hung on to the 1400 level. the futures, the pit i'm in, contin
david: taxes on dividends could be rising. chairman of southern company who owns a bunch of utility companies, why that could spell trouble for more than just investors. >> liz joins us telling us which big companies will be first to take a costly fall if we, in fact, do go off that cliff. ♪ [ indiinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indiinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting,...
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Dec 27, 2012
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they're balanced on increasing taxes. i don't like increasing taxes. i like pro-growth economics but we need to cut spending. right now the law does it. i think go over the cliff. we know exactly what is going on. i'm concerned about a lot more things around the globe, particularly corporate earnings than i am the fiscal cliff. adam: all right. jeffrey cleveland, you're an economist, which is worse, raising taxes doing austerity all at once? what you do i this? >> i think the biggest problem is the uncertainty with all this. we're at december 27th. we're talking about changing the rules of the game. i think from an economist's standpoint, from an investor's standpoint rules, whether they're tax rates or spending rates, those are the signposts for the entrepeneurs. that is how entrepreneurs set the agenda for growth and economic activity. if you're adjusting those signposts, adam, at the last second, that is bad for growth. sort of like if you're on the super high wand a keep changing exit signs. you can't stop. adam: steve hayes, i will get to you in a
they're balanced on increasing taxes. i don't like increasing taxes. i like pro-growth economics but we need to cut spending. right now the law does it. i think go over the cliff. we know exactly what is going on. i'm concerned about a lot more things around the globe, particularly corporate earnings than i am the fiscal cliff. adam: all right. jeffrey cleveland, you're an economist, which is worse, raising taxes doing austerity all at once? what you do i this? >> i think the biggest...
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Dec 23, 2012
12/12
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how the heck do you file your tax return. it is it a simple tax return . it is the lt day of return. theyan't. it is so unfair. >> wayne, is it bad as tracey thinks it is it. >> i think it is worse than tracey thinks it s. amt or alternative minum tax wasa pass to hook the high bracket taxpayers. that was dropped down to 25,000. right in there and so that is for people filing as together. that means an extra 30 million people will be paying taxes that never paid taxes before. they don't understand the alternative minimum tax and if it is not attached. the fall out has to reconfigurend takes them 90 days and once again the government is not serving us. it is serving them selves. >> we are talking about 80 to million of those impacted by the fiscal cliff firasco and many americans may suffer because of it i think to look at what you are saying, - congress is ashamed to bringing uncertainty to americans who rely on tax returns to put back in the economy. i am sure for a lot of these folks that money is spent to pay off bills and holidays and get breathing roo
how the heck do you file your tax return. it is it a simple tax return . it is the lt day of return. theyan't. it is so unfair. >> wayne, is it bad as tracey thinks it is it. >> i think it is worse than tracey thinks it s. amt or alternative minum tax wasa pass to hook the high bracket taxpayers. that was dropped down to 25,000. right in there and so that is for people filing as together. that means an extra 30 million people will be paying taxes that never paid taxes before. they...
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Dec 22, 2012
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. >> leaders need a tax cut, middle tax cut. senate have anything against it they should pay fair share of taxes. neil: you're not santa. you're not, because i know santa. santa is a friend of mine and my santa wouldn't use his position to sell a cheap political point but that's just what this crackpot cringe gel was doing in washington today. targeting republicans for blocking needed spending and i guess, just being cold, heartless souls. leaving aside reality where the real santa's paying for all the gifts that congress doles out. must we use an icon to plug these morons? by the way, first time this guy was on capitol hill he was reading off a prompter. what idiot reads off a prompter? scroll up a little bit, please. anyway, anyway, it is a biz blitz segment. we have banking big wicking -- bigwig, john allison. i couldn't believe this, john, using santa to sell your cheap thought. your thoughts? >> it is interesting, neil, santa is a very just person. he requires children not to be naughty. he requires implication, he said tha
. >> leaders need a tax cut, middle tax cut. senate have anything against it they should pay fair share of taxes. neil: you're not santa. you're not, because i know santa. santa is a friend of mine and my santa wouldn't use his position to sell a cheap political point but that's just what this crackpot cringe gel was doing in washington today. targeting republicans for blocking needed spending and i guess, just being cold, heartless souls. leaving aside reality where the real santa's...
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Dec 23, 2012
12/12
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the fear that they'll have higher taxes, there will be fewer services? >> well, you know, one of the having dichotoms, if you will, of our economy, sort of the top 20% of earners spend about 60% almost of discretionary spending so it's like a 3-1 level factor, if you're worried about the economy and onehird of people saying as they are, it matters who the people are and what we're seeing is in the higher income numbers, in the people that actually are affected by these tax rates, we are seeing the pullback, and that's what i'm afraid of. it's not the whole economy being scrooged, although i love the teasers you guys make. will the top 20% of the people, if they start to pull back, it has a three-time effect over the overall economy. >> brenda: news alert, toby likes teases. susan, what do you think about that, that it's the higher taxpayer? >> that's definitely a part of the equation here. one of the other interesting facts that's happening in this season versus last season is that the retailers are not discounting as much as they did last year. they all
the fear that they'll have higher taxes, there will be fewer services? >> well, you know, one of the having dichotoms, if you will, of our economy, sort of the top 20% of earners spend about 60% almost of discretionary spending so it's like a 3-1 level factor, if you're worried about the economy and onehird of people saying as they are, it matters who the people are and what we're seeing is in the higher income numbers, in the people that actually are affected by these tax rates, we are...
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Dec 30, 2012
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of tax you more, cat your services. what you do did you will pay more for my note that your pension and benefits. tom: how does all this in? we wind up with pitchforks? >> it's happening now. they don't call it class warfare. that is what is going on over there. again, there is no air spring. there's nothing about a pro-democracy ment. r tofew had much too much and way too many head was too little. the people in the street that one piece of the pipe command it's going on around the world. and for some reason people are oblivious to it. look in this country, college graduates, the income is declining eight or 0% since the recession. you can't find a job. 3 percent of them have jobs paying high-school wages. so you're right. it's not getting better, and again, we have the incompence in wasington making things worse. tom: but the numbers, you look at the numbers and you see those numbers, they are inching up a little bit. we are getting a little bit of growth. we have a little better ventilation. we have a little bit of a
of tax you more, cat your services. what you do did you will pay more for my note that your pension and benefits. tom: how does all this in? we wind up with pitchforks? >> it's happening now. they don't call it class warfare. that is what is going on over there. again, there is no air spring. there's nothing about a pro-democracy ment. r tofew had much too much and way too many head was too little. the people in the street that one piece of the pipe command it's going on around the world....
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Dec 30, 2012
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is a sample of the device of a lander that is being tested negotiation government money, ne of your taxes involved, 80ive innovation driven by entrepreneurs taking the risk. competition if a car that gets 100 miles per hour has drawn nearly 100 entrepreneurs. the design competition was first, the cars had to pass the looks test. these cars d. nexts the race. 54 teams will compete to win. e man who raised the money if the prize and organizeed the organization is here. >> we have entrepreneurs and scientists and engineers to do what only government could do. >> peter joins us from los angeles. you have new prizes now? >> we do. we are havin a lot offun figuring where there could be breakthroughs that you not going on or being driven by large companieor government that is challenging entrepreneurs to make the impossible, possible. >> where do you get the money? who put up the x prize? >> the money, really, comes from a range of different groups, includin individuals, and philanthrosts and cpetitions or large corporations, progressive insurance or companies such as that, wanting to make a dif
is a sample of the device of a lander that is being tested negotiation government money, ne of your taxes involved, 80ive innovation driven by entrepreneurs taking the risk. competition if a car that gets 100 miles per hour has drawn nearly 100 entrepreneurs. the design competition was first, the cars had to pass the looks test. these cars d. nexts the race. 54 teams will compete to win. e man who raised the money if the prize and organizeed the organization is here. >> we have...
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Dec 27, 2012
12/12
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people are factoring in -- my tax benefits, maybe my taxes will be raised by $22 million a year come january and is having a downdraft on the economy. very irresponsible. i want this solve the. >> dennis: your democratic colleagues said the problem is division among republicans and thought that was a republican/democrat thing. >> it is both. there's plenty of blame to go around on both sides. democrats are to blame for eat the ridge ideological crusade, the congressional budget office and ernst and young warned will destroych ideological crusade, the congressional budget office and ernst and young warned will destroy 2,700,000 middle-class jobs and republicans should try to save as many people as possible. that is the impasse and ultimately the leadership of the house is responsible for not having the house in session right now to be hammering this out. marcy and i can trade charges back-and-forth on tv but we are not in the same room to actually deliver 8 -- deliberate as the legislative process is designed to do. i am embarrassed to be in my district when the house should be in was
people are factoring in -- my tax benefits, maybe my taxes will be raised by $22 million a year come january and is having a downdraft on the economy. very irresponsible. i want this solve the. >> dennis: your democratic colleagues said the problem is division among republicans and thought that was a republican/democrat thing. >> it is both. there's plenty of blame to go around on both sides. democrats are to blame for eat the ridge ideological crusade, the congressional budget...
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Dec 30, 2012
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i'm talking about taxes going up no matter what. taxes in the esident's health care law. a new tax on invesent income, a tax on medical device makers costing jobs, those aren't the only ones, that last tax forcing companies, many companies to yoff workers. and coming attractions for thehe new year, to ben stein, charles payne, todd schoenberger and sarah, charles, you first. >> let the flood gates open. listen, dagen, obviously, we know-- actually we don't know, but it's to nancy pelosi's point we're going to find out and i hope we like it. lot of taxes associated with obamacare. you mentioned the medic device issue, a lot of these companies, by the way, medical device companies have been laying off workers right now. and that is, if this impacts, by the way, everyone, takes away from research and development, which will take away from life saving innovation and it's just, again, the very tip of the iceberg. ultimately, there's going to be a whole lot of taxes that just opens the gate for. this is just the beginning. >> ben, even if u look at action taken by the medical d
i'm talking about taxes going up no matter what. taxes in the esident's health care law. a new tax on invesent income, a tax on medical device makers costing jobs, those aren't the only ones, that last tax forcing companies, many companies to yoff workers. and coming attractions for thehe new year, to ben stein, charles payne, todd schoenberger and sarah, charles, you first. >> let the flood gates open. listen, dagen, obviously, we know-- actually we don't know, but it's to nancy pelosi's...
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Dec 23, 2012
12/12
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tax rate. it is humongous. gerri: we talk about people rushing to the year-end, what other kind of impact does that have? >> it's making everyone scramble on every part of everybody. the banks from everybody trying to get ahead of everyone else to get the closing schedules. getting all the paperwork in order. gerri: is every attorney throughout the country, every real estate broker -- are they running to meet this deadline? >> i'm talking about being on the phone at 2:00 a.m. and 3:00 a.m., all night. my counterparts in los angeles are telling me that they are in for the same thing. gerri: on a i kkow a lot of people are thinking about selling. obviously, the fiscal cliff is now in play. but they still can derail themselves. >> yes, i have been involved when it does. one of the big things is if financing falls through. gerri: what you see taking these deals are part? >> fincing is the number one cause. back in the headache. most of the appraisers are coming in under what they should be. so that
tax rate. it is humongous. gerri: we talk about people rushing to the year-end, what other kind of impact does that have? >> it's making everyone scramble on every part of everybody. the banks from everybody trying to get ahead of everyone else to get the closing schedules. getting all the paperwork in order. gerri: is every attorney throughout the country, every real estate broker -- are they running to meet this deadline? >> i'm talking about being on the phone at 2:00 a.m. and...
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Dec 30, 2012
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. >> just about everybody is trying to stop the tax cuts from exping. but billions in subidies for wind energy should be expiring. could they be right or will they blow up energy prices. we'll go in focus with steve bor bes and bill and morgan. is it paying off? >> no, it is 18 times that of nuclear energy. ronald reagan was right. thes thing to immortality is a government program. politicians are labeled with hot wind and we label the section gone with the wind. >> we have sending sib sidies in '92, has it been worth it. >> we are early inlet process. we have subsidized oil and coal and gas. we have done themrom darn near a century. these don't look so bad. like i or not, the majority of americs believe that global warming is an issue. we need to develop clear energy sources. fossil fuels may b a difficult problem. we are subsidizing thingings. it is cheaper to produce energy from natural gas. it is a subsidies. other than it is nural gas there. it is 63 cents compared to $53. th is not a pay off to me. >> i will have to disagree with rick. last time w
. >> just about everybody is trying to stop the tax cuts from exping. but billions in subidies for wind energy should be expiring. could they be right or will they blow up energy prices. we'll go in focus with steve bor bes and bill and morgan. is it paying off? >> no, it is 18 times that of nuclear energy. ronald reagan was right. thes thing to immortality is a government program. politicians are labeled with hot wind and we label the section gone with the wind. >> we have...
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Dec 23, 2012
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social policy should not be done through the tax code. john: and i agree. [applause] people would still give. >> i think that point* of view has a great deal of merit but i applaud respectfully say the charitable deduction is an important part of american life. we don't have giving because of the charitable deduction but because we've value that. it is an important mechanism to link communities and. john: the charity does not the deduction. >> is a signal of a set of values. john: from facebook. do think it is better to give time or money? >> is great to do both. john: pic one. >> i don't. [applause] i think the best way to understand how way charitable organization works is to help achieve the mission is put to your time where your money is. john: people who give time self report that it brings self report that it brings more happiness. ally bank. self report that it brings more happiness. why they have a raise your rate cd. tonight our guest, thomas sargent. nobel laureate in economics, and one of the most cited economists in the world. professor sargent,
social policy should not be done through the tax code. john: and i agree. [applause] people would still give. >> i think that point* of view has a great deal of merit but i applaud respectfully say the charitable deduction is an important part of american life. we don't have giving because of the charitable deduction but because we've value that. it is an important mechanism to link communities and. john: the charity does not the deduction. >> is a signal of a set of values. john:...
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Dec 27, 2012
12/12
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does our tax code give us a fair tax system? the question is whether the crystal ball that this officer of the comptroller of the currency is using. in his holding cell in china. gerri: regulators didn't see the last crisis. the kelihood is not high. but what more regulators would look at? >> fairly narrow things like the liquidity risk, interest rate risk, different things happening in the financial markets. now, what they are trying to do is look more broadly. for example, what sort of risk management systems these banks have in place? are they planning for the next ceo? are they communicating to the employees what sort of risks they want to undertake? gerri: didn't we see that with jpmoan chase? they made the big a big bet and lost a ton of dough? >> exactly. you can consider regulators are trying to take a more holistic approa -- pardon me for using outward. gerri: if they only knew how. they are so far away from what really goes on in these prints. it's hard for them to even understand businesses. how likely do you think it
does our tax code give us a fair tax system? the question is whether the crystal ball that this officer of the comptroller of the currency is using. in his holding cell in china. gerri: regulators didn't see the last crisis. the kelihood is not high. but what more regulators would look at? >> fairly narrow things like the liquidity risk, interest rate risk, different things happening in the financial markets. now, what they are trying to do is look more broadly. for example, what sort of...
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Dec 26, 2012
12/12
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tax cuts. the lapse of the bush tax cut would mean the top would go to 39.6. tax rates would also go all for lower income earners. the maximum lowest rate going back to 15%. four investors, capital gains rates would revert to 20%. dagen: i will not utter that word. thank you for that. growing pessimism when it comes to the club. some americans say we will get a deal. let's bring in ted kaufman. he is joining us from wilmington tell me what happens if we go over the cliff? >> i have been saying for a while we will go over the cliff. republican members in the house have made it pretty clear they will not vote for tax increases. this has been around for 30 years. the simplest answer to this is what i predicted will happen and that is after the 31st that the bush tax cuts will expire and then there will be a bill in order to reinstate the taxes for everyone below the lowest 2% and republicans will be able to both about. i think that is what it will take to make this happen. dagen: are you surprised
tax cuts. the lapse of the bush tax cut would mean the top would go to 39.6. tax rates would also go all for lower income earners. the maximum lowest rate going back to 15%. four investors, capital gains rates would revert to 20%. dagen: i will not utter that word. thank you for that. growing pessimism when it comes to the club. some americans say we will get a deal. let's bring in ted kaufman. he is joining us from wilmington tell me what happens if we go over the cliff? >> i have been...
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Dec 27, 2012
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coming their way beginning january 1 in everything from medical devices traditional search taxes on investment income. it is about half the size of the fiscal cliff, if you will, tax hikes that could well be added to them if the year finishes the way we stand right now. >> absolutely, lou. i found it interesting if you read the affordable correct many of the onerous mandate created by obamacare were exempted for the unions so i found it interesting that the administration is looking out for the union and not looking out for the state and individual citizens to bearey the load of this. lou: your ground operation would have been a little stronger. you could have prevented people of laws.sorts you don't find that as fair and equitable, right? >> we challenged on constitutional grounds, w but dd not quite get it all. lou: more lawsuits to come and we will see how those, as well. the great state of south carolina. great fobeing with us. hsbc agrees to being a mexican drug cartel bank. terrorists.ertern tonight she meets the former employee wriried to stop hsbc illegal conduct, former hsb
coming their way beginning january 1 in everything from medical devices traditional search taxes on investment income. it is about half the size of the fiscal cliff, if you will, tax hikes that could well be added to them if the year finishes the way we stand right now. >> absolutely, lou. i found it interesting if you read the affordable correct many of the onerous mandate created by obamacare were exempted for the unions so i found it interesting that the administration is looking out...
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Dec 25, 2012
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taxes. and, on top of health care, that's why we have not gotten really any better off in unemployment than when the president took office. i just think it's time for us to stop talking about making it harder to create jobs and instead, say we champion small business and we want you to grow and expand and give us a great economy by hiring people. gerri: senator, i like what you said about stability and predictability. i think that's what a lot of people are looking for out there. thanks for coming on the show. great to have you here. i hope you come back soon. >> thanks, gerri. i love being on. thank you. gerri: thank you. a federal tax credit for wind power producers expires in 2013. the obama administration is pushing for new taxpayer support for wind projects. with our budget deficit soaring an intense debate is heating up over whether the government should be throwing your tax dollars at industry the first place. i asked robert bryce, senior fellow at the manhattan institute about this i
taxes. and, on top of health care, that's why we have not gotten really any better off in unemployment than when the president took office. i just think it's time for us to stop talking about making it harder to create jobs and instead, say we champion small business and we want you to grow and expand and give us a great economy by hiring people. gerri: senator, i like what you said about stability and predictability. i think that's what a lot of people are looking for out there. thanks for...
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Dec 25, 2012
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they don't like the tax penalty for it. would you give them a tax holiday? you have to put it to use and do something? >> they tried that in 2004 and they brought back hundreds of villains. they put the murders and bonuses and what we have to do is recognize the president obama is not an economic dictator. the federal reserve can bring interest industry rates much lower. so we have to go to these two other areas are overwhelming support of inflation adjusted minimum wage. >> i'm not alone in an environment like this, how are you going to compel businesses, fast food joints and the rest, but it's in there interest to raise the rates when they are barely getting by as it is just as henry ford did back before world war i to $5. he said he wanted people to buy the cards. that's what you got to do. neil: so what about substance of the country where they have jobs with $10 an hour. were people really aren't jumping on these jobs. where we have a country where help wanted advertising is at an all-time high. a lot of people, for whatever reason, it are having troubl
they don't like the tax penalty for it. would you give them a tax holiday? you have to put it to use and do something? >> they tried that in 2004 and they brought back hundreds of villains. they put the murders and bonuses and what we have to do is recognize the president obama is not an economic dictator. the federal reserve can bring interest industry rates much lower. so we have to go to these two other areas are overwhelming support of inflation adjusted minimum wage. >> i'm not...
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Dec 28, 2012
12/12
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if we go over the fiscal cliff, what does it mean for you, income tax, estate tax, dividend tax, big changeses, yes, they are coming. can you protect yourself from the government? probably not, but we'll detail what's going to happen to you next. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... [ all ] i'm with scottrade. a body at rest tends to stay at rest... while a body in motion tends to stay in motion. staying active can actually ease arthritis sympto. but if you have arthritis, staying active can be difficult. prescription celebrex can help relieve arthritis pain so your body can stay in motion. because just one 200mg celebrex a day can provide 24 hour relief for many with arthritis pain and inflammation. p
if we go over the fiscal cliff, what does it mean for you, income tax, estate tax, dividend tax, big changeses, yes, they are coming. can you protect yourself from the government? probably not, but we'll detail what's going to happen to you next. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts...
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Dec 27, 2012
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i'm going to call them obama tax cuts. will runs say no to voting for a tax cut? >> well, the interesting question is of course what this comes with. we're at the beginning of a conversation not at the end of a conversation. because we have to decide what to do withhe bush tax cuts. that's one thing. we have to dide to do -- what to do with a trillion dollar of obamacare tax increases. very few people are talking about this but there's a trillion dollars of tax increases obamand ad demonstration passed before the last eltion and 90% of those hikesere delayed until after the president got himself reelected. then we have massive spending, $8 trillion in debt that obama's running up the next decade. republicans have several tools. right now we have very well leverage in the debate over the fiscal cliff because that stuff happens automatically but the idea of a debt ceiling increase, they've told oba if you want a trillion dollar in higher debt and he needs that eight times in the next decade, you have to cut spending a trillion dollars. >> here, i'll ask you again. 0
i'm going to call them obama tax cuts. will runs say no to voting for a tax cut? >> well, the interesting question is of course what this comes with. we're at the beginning of a conversation not at the end of a conversation. because we have to decide what to do withhe bush tax cuts. that's one thing. we have to dide to do -- what to do with a trillion dollar of obamacare tax increases. very few people are talking about this but there's a trillion dollars of tax increases obamand ad...
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Dec 26, 2012
12/12
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david: without hiking tax rates. a couple months later he came out with his 2012 budget in which he said the tax system should be simplified. it worked for all americans with lower individual and corporate tax rates and fewer brackets. what changed his mind? >> he came out after the election saying he wanted 1.6 trillion in tax hikes, and his election kind of made him go for something figure. even though that meant he couldn't get an agreement. my personal view he does not want an agreement with republicans, he wants us to go over the fiscal cliff because republicans will get flamed and we will have a different scenario with the lowest rate not being 10%, but 15%, top rate of 35 to 40%, 42. and then tax cuts. david: the responsibility of political purposes is astounding to me. the only contradicting what he said a year ago, but got taken the advice of some of the top economic advisors that will go into recession. >> it is astounding. they also applies going over the fiscal cliff for that very reason. they want top ta
david: without hiking tax rates. a couple months later he came out with his 2012 budget in which he said the tax system should be simplified. it worked for all americans with lower individual and corporate tax rates and fewer brackets. what changed his mind? >> he came out after the election saying he wanted 1.6 trillion in tax hikes, and his election kind of made him go for something figure. even though that meant he couldn't get an agreement. my personal view he does not want an...
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Dec 25, 2012
12/12
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i got a kick out of thigh 2, the question of the, should we tax the richmore. >> yes. >> no. >> i think she goes on instinct, but he understands economy. >> i wish them luck. >> my bottom line if we keep you voting for politicians that want to pass more laws and raise more taxes, and spend more money, the result will be a country governed by piecemeal social implemensocialism,biggest leaves prosperous and less free, being realistic means we have to fight our instinct. that is our show, thanks for watching. watching. good night with fidelity's new options platform, we've completely integrated every step of the process, making it easier to try filters and strategies... to get a list of equity opon.. evaluate them with our p&l calculator... and execute faster with our more intuitive trade ticket. i'm greg stevens and i helped create fidelity's options platform. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account.
i got a kick out of thigh 2, the question of the, should we tax the richmore. >> yes. >> no. >> i think she goes on instinct, but he understands economy. >> i wish them luck. >> my bottom line if we keep you voting for politicians that want to pass more laws and raise more taxes, and spend more money, the result will be a country governed by piecemeal social implemensocialism,biggest leaves prosperous and less free, being realistic means we have to fight our...
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Dec 24, 2012
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. >> averting this middle-class tax hike is not a democratic responsibility or republican responsibility. with their foes the american people have determined that governing is a shared responsibility between both parties in this congress laws can only pass with support from democrats and republicans, and that means nobody gets 100 percent of what they want. lou: there are only ten days remaining to the fiscal cliff. president obama headed to value within actually minutes, and members of congress have also gone home for chrrstmas vacation already. in a news conference today, speaker boehner admitted negotiations with the president have, indeed, been difficult. >> until the president on monday, these are my bottom lines. the president told me that his numbs, $1 trillion in new revenues, 850 billion in spending cuts was his bottom-line. he could not go any further. lou: and he didn't. the plan be option collapsing last night when he failed to get republican support to raise taxes on only those making more than a million dollars a year. over in the senate majority leader harry reid pounced o
. >> averting this middle-class tax hike is not a democratic responsibility or republican responsibility. with their foes the american people have determined that governing is a shared responsibility between both parties in this congress laws can only pass with support from democrats and republicans, and that means nobody gets 100 percent of what they want. lou: there are only ten days remaining to the fiscal cliff. president obama headed to value within actually minutes, and members of...
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Dec 24, 2012
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is a fat tax like the one that they have in europe the way to do it? a vat tax? a value added tax? is that story coming up next. how do traders using technical analysis streamline their process? at fidelity, we do it by merging two tools into one. combining your customized charts with leading-edge analysis tools from recognia so you can quily spot key trends and possible entry and exit points. we like this idea so much that we've applied for a patent. i'm colin beck of fidelity investments. our integrated technical analysis is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. >> when you start talking about an issue of treatment of mental illness, the mentally ill should they have access to guns? well, there is a rational response that most americans have somebody who is not thinking clearly should not have a gun in their hands. but how do you define and that codify that into law? that's a much trickier issue. david: that was scott rasmussen with the latest poll on gun control and don't forget to tune into varney 9
is a fat tax like the one that they have in europe the way to do it? a vat tax? a value added tax? is that story coming up next. how do traders using technical analysis streamline their process? at fidelity, we do it by merging two tools into one. combining your customized charts with leading-edge analysis tools from recognia so you can quily spot key trends and possible entry and exit points. we like this idea so much that we've applied for a patent. i'm colin beck of fidelity investments. our...
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Dec 24, 2012
12/12
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i think they should be taxing guns the way they tax cigarettes. ashley: interesting. do you think the fact that we are edging to that edge of the cliff, do you think that is already priced into the market? >> i do not think that it is. i think everybody assumes that a deal will come down. the speaker was saying they will not pull the trigger on a deal until everyone's taxes go up. i think a lot of people would concur with that. that is the general feeling. ashley: what about the trade on crude, elliott, it is in a pretty narrow range right now? >> sitting right in the same narrow range for a month at least. hovering around $90, a little lower. there really is nothing going on here today. ashley: what pushes oil or crude higher or lower? >> well, there are multiple factors. technically, there is always supply and demand. i think the dollar is really what pushes this market around the most. the dollar goes up, we tend to go down and vice versa. it will sit and sit and sit and a story it will give to run in a different direction. ashley: what are you asking from santa in
i think they should be taxing guns the way they tax cigarettes. ashley: interesting. do you think the fact that we are edging to that edge of the cliff, do you think that is already priced into the market? >> i do not think that it is. i think everybody assumes that a deal will come down. the speaker was saying they will not pull the trigger on a deal until everyone's taxes go up. i think a lot of people would concur with that. that is the general feeling. ashley: what about the trade on...
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Dec 26, 2012
12/12
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the lapse of the tax cuts means the top tax rate reverts to 39.6 from 35% now. taxes would also go up for lower income earners. the maximum low rate would revert to 15% from 10% now, and investors see capital gains rate revert from 20%, revert to 20%, rather from 15% now. depending on what analysis you look at, average families could pay $2,000 to $4,000 more in taxes next year. ashley? ashley: that's the why it's called the cliff. thank you, peter. >> you bet. ashley: the speaker stuck in a storm, but the phones do work. bell ringing soon, and amazon known for customer service, especially over the holidays, but it's not cared over to the web hosting business. merry christmas for hollywood. ticket sales going through the roof. details when "count down" returns. ♪ ♪ >> well, earlier, of course, we touched on the weakness in retail after disappointing data. well, technology shares under pressure, especially the large cap names. the selling could be due to uncertainty on a budget deal and folks just wanting to lock in gains, potentially, of course, before taxes
the lapse of the tax cuts means the top tax rate reverts to 39.6 from 35% now. taxes would also go up for lower income earners. the maximum low rate would revert to 15% from 10% now, and investors see capital gains rate revert from 20%, revert to 20%, rather from 15% now. depending on what analysis you look at, average families could pay $2,000 to $4,000 more in taxes next year. ashley? ashley: that's the why it's called the cliff. thank you, peter. >> you bet. ashley: the speaker stuck...
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Dec 28, 2012
12/12
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up to $500,000 a year threshold for new tax hikes, but apparently not. the source familiar with what's going on inside the white house right now saying that the president is not making a new offer so it'll be interesting to see how that goes down with the g.o.p. leadership. we'll keep you up to date, of course. lauren, meantime, at the new york stock exchange, and sandra smith at the cme. lauren, to you first, he dough already down 117 points. >> session lows, ashley, and this week has not been a good one for the stock market, but we'll show you rare winners this week, and let's start with ford, in front of the poss right now, shares up today by a quarter of 11%, but up a remarkable 8% this week. genworth financial putting in a good week, sprint, good year tire, and other brands, showing you that too, the stock down today, but about.8%, a decent week, interesting, you know how bad the week is is when you talk about young brands, the biggest winner of 11.7% on the week, but amd, that's your biggest loser this week down 11.5%, down about 5.5% today alone.
up to $500,000 a year threshold for new tax hikes, but apparently not. the source familiar with what's going on inside the white house right now saying that the president is not making a new offer so it'll be interesting to see how that goes down with the g.o.p. leadership. we'll keep you up to date, of course. lauren, meantime, at the new york stock exchange, and sandra smith at the cme. lauren, to you first, he dough already down 117 points. >> session lows, ashley, and this week has...
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Dec 22, 2012
12/12
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lou: if there is no agreement, taxes will go up on all american taxpayers and hundreds of billions of dollars in automatic government spending cuts will kick in. potentially plunging the economy back into recession. after the boehner plan fails stock markets around the world reacted and reminded the president, congress, and th senate that more failures of leaders and failures to reach compromise in washington will have on pleasant and possibly exceedingly painful consequences wall street today sold off sharply despite more posite news on an economy that is now obviously growing anduilding momentum. the dow jones industrial fell 121 points. the s&p down 39 and a half, nasdaq lost 29 points. to assess what is now a bright new economic prospects and the nsequence of further gathering in irresponsibility in washington, we are joined by economist john lonski, noted fund manager and strategist harvey eisen, and in other news from washington tonight president obama nominating senator john kerry to be the next secretary of state wih their views on kerry, benghazi, obama's foreign policy. we w
lou: if there is no agreement, taxes will go up on all american taxpayers and hundreds of billions of dollars in automatic government spending cuts will kick in. potentially plunging the economy back into recession. after the boehner plan fails stock markets around the world reacted and reminded the president, congress, and th senate that more failures of leaders and failures to reach compromise in washington will have on pleasant and possibly exceedingly painful consequences wall street today...
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Dec 28, 2012
12/12
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in the greenspan e they bumped up payroll taxes for excess money going in. about this is first time there are fewer people putting in than taking out. so government has to write a check. >> it is unfortunate, the lockbox was raided. there is nothing wrong with entitlement programs, but it is the growth of those programs that are problematic. with respect to social security, we're all living longer, people need to work a little bit longer, and social security will be there for many generations if we're prudent about it 9. tom: this is the third rail, even president bush could not get social security reform done, don't touch it, is the message in wor washington. >> you don't have the ability to tell messa of bad news for month after month. the public needs to know the truth, we're on a path with 16.4 trillion worth of debt this economy cannot pay it off, our revenues cannot meet the debt expenditures. tom: i forget which sound bite said it, but come is that this will not add one crept to the deficit -- one cent to the deficit, but money for first time in histo
in the greenspan e they bumped up payroll taxes for excess money going in. about this is first time there are fewer people putting in than taking out. so government has to write a check. >> it is unfortunate, the lockbox was raided. there is nothing wrong with entitlement programs, but it is the growth of those programs that are problematic. with respect to social security, we're all living longer, people need to work a little bit longer, and social security will be there for many...
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Dec 24, 2012
12/12
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they're taxing the hell out of anyone who dares to go make money. maybe i should start an illegal business. advise me as my criminal defense attorney, can you please advise me i will sell fake gucci bags online in the new year. don't tell anyone. >> you would keep it legit and wonderful person you are. melissa: but there are no penalties. >> takes five minute to develop an llc. melissa: right. >> you have a limited liability company you can develop online. takes five minutes to do that. what you need to do in regulatory fashion police have to monitor it better therefore they can coordinate with each other, to crack it down and break it down to prevent people selling what every it is. whether personal services as here. whether it is handbags or anything else that is inappropriate, illegal unlawful. melissa: is the bottom line people should be worried about running illegal businesses online? i'm not totally convinced? >> i have to tell you it is online business you have much better probability thriving in it, doing it, becoming an entrepreneur succeed
they're taxing the hell out of anyone who dares to go make money. maybe i should start an illegal business. advise me as my criminal defense attorney, can you please advise me i will sell fake gucci bags online in the new year. don't tell anyone. >> you would keep it legit and wonderful person you are. melissa: but there are no penalties. >> takes five minute to develop an llc. melissa: right. >> you have a limited liability company you can develop online. takes five minutes...
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Dec 27, 2012
12/12
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pledge not to increase taxes. lori: back off of politics. i'm curious about your take on the economy because the third quarter was revised upwards to over 3% growth. pretty good. you mentioned jobs, we're seeing some momentum, improvement in labor situation, housing is looking better, spending, questionable, almost like the economy, the domestic economy is like a powder keg ready to explode and to the good side meaning growth, not fall off a cliff, take a quick if you can out of the picture. how are the fundamentals of the economy? can you evaluate it without this other stuff going on in washington? >> the way to think about it is the economy in the fourth quarter is growing 1.5% to 2%. everyone's numbers around there. that is disappointing. the average in the postwar period was closer to 3 so we can do better. one of the reasons we are not doing better is there's so much uncertainty what government is going to do. i do believe we could have a great year next year provided that washington gets out of the way and i
pledge not to increase taxes. lori: back off of politics. i'm curious about your take on the economy because the third quarter was revised upwards to over 3% growth. pretty good. you mentioned jobs, we're seeing some momentum, improvement in labor situation, housing is looking better, spending, questionable, almost like the economy, the domestic economy is like a powder keg ready to explode and to the good side meaning growth, not fall off a cliff, take a quick if you can out of the picture....
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Dec 26, 2012
12/12
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and tax reform is very difficult. >> why can't we get sunsetting on spending, and no sunsetting on tax cuts. we shouldn't be, that's what we should be sunsetting are the spending bills. we should be talking about wind energy that needs to be sunsetted, soon. you bring up the side of the cliff that no one talks about. the sequester, the automatic spending reduction, i don't think it would be a bad thing if washington took the sequester and showed that they could cut spending. >> because we have a never budget balancing act going on with the journalist pointed out the secret gang of six meetings, that's budgeting by, secret gang of 12 meetings. and-- >> quickly that's what we use today call blue smoke and mirrors in washington and that's why people are upset at washington. don't trust them. david: good to see you. well, the numbers are in and you were not shopping as much as last year, apparently. holiday retail sales were basically unchanged from last year and sandy, of course, and the connecticut shooting got some blame, but what about no jobs and no money? coming up, the opening bell,
and tax reform is very difficult. >> why can't we get sunsetting on spending, and no sunsetting on tax cuts. we shouldn't be, that's what we should be sunsetting are the spending bills. we should be talking about wind energy that needs to be sunsetted, soon. you bring up the side of the cliff that no one talks about. the sequester, the automatic spending reduction, i don't think it would be a bad thing if washington took the sequester and showed that they could cut spending. >>...
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Dec 27, 2012
12/12
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go. >> well, we can't see taxes go up on anybody across the board and we have to see the tax rates extended for everyone and-- >> that's not going to happen. >> that's not going to happen so who is going to pay more in taxes? you say we're going to have a deal and so who pays more in taxes? >> well, you know, with the senate back today and the president back today, hopefully we'll see outlines and-- >> come on. >> i'm not sure what's going on. stuart: you think they're going to get a deal. i want you to tell me the outlines of that deal. not what you hope for, what do you think is it going to happen. >> i'm not sure where the president and senator ree reid e going to draw the line. where the president before was 400,000 with speaker boehner at a million last week. >> let's suppose it's 250. do you think the republicans will accept that, the say go ahead and do it, do you think so? >> i think we have to look at what the whole package is going to be. taxes are part of it and then the spending side. while we we were in a spending crisis and that's driven by-- and sequestered and-- stuart: will
go. >> well, we can't see taxes go up on anybody across the board and we have to see the tax rates extended for everyone and-- >> that's not going to happen. >> that's not going to happen so who is going to pay more in taxes? you say we're going to have a deal and so who pays more in taxes? >> well, you know, with the senate back today and the president back today, hopefully we'll see outlines and-- >> come on. >> i'm not sure what's going on. stuart: you...